Stock Market Suffers Loss: NSE Sheds N111 Billion in Market Capitalization as Investor Sentiment Wanes

The Nigerian equities market experienced a downturn on Thursday, with the Nigerian Stock Exchange (NSE) witnessing a drop of N111 billion in market capitalization. This indicates a negative sentiment among investors and a low demand for stocks.

The market capitalization of the NSE closed at N35.635 trillion, representing a 0.31% decrease from the previous day’s closing of N35.746 trillion. The NSE All-Share Index (ASI) also dropped by 0.31%, settling at 65,482.91 points, down by 204.25 points from the previous day’s 65,687.16 points.

Key Market Indices for Today’s Trading Session:

• NGX ASI: 65,482.91 points
• % Day Change: -0.31%
• % YTD: +27.77%
• Market Cap: N35,635 trillion
• Volume Traded: 509.247 million
• Value: N4.79 billion
• Deals: 8,070

Stock Performance: LASACO led the gainers’ chart with a 10% increase in its share price, while JAPAULGOLD suffered the biggest loss of 9.91%. JAPAULGOLD also recorded the highest volume of shares traded at the close of the market.

Top Gainers and Losers: LASACO, MULTIVERSE, and SKYAVN performed well with their stocks appreciating by 10%, 9.96%, and 9.91% respectively. On the other hand, JAPAULGOLD, CADBURY, and FTNCOCOA experienced the highest losses, with their share prices plummeting by 9.91%, 9.80%, and 9.40% respectively.

Trading Activity: Trading activity declined, with the total value of shares traded falling by 32.9% to N4.79 billion. The number of shares exchanged also decreased by 1.76%, closing at 509.25 million shares.

Most Active Stocks: JAPAULGOLD, UBA, and TRANSCORP were the most active stocks in the market, with JAPAULGOLD leading the activity with a volume of 115.69 million shares.

Banking Sector Update: ZENITH BANK and GTCO boosted their earnings by 0.86% and 0.13% respectively, contributing to a slight profit in the banking sector. However, MTN NIGERIA and UBA experienced a decline in their share prices, negatively impacting the market performance.

FUGAZ Update: Despite the bearish sentiment in the market, the Nigerian banking sector demonstrated its strength in the previous trading session, with ZENITH BANK and GTCO posting gains in their share prices. FBNH, ACCESS HOLDINGS, and UBA experienced a drop in their share prices.

Overall, the market’s performance showed signs of instability, with both gains and losses among various sectors and stocks. Investors remain cautious as the market continues to experience fluctuations.